I still say Chinese movies based on Ancient China are the best.
And if you haven't seen "House of Flying Daggers" you have so missed out.
"Snakes on a Plane" sounds like one of those frustrating movies, where you become restless, after 5 minutes. As for your idea...I agree with Matt. Just make sure that if you really want to do it, then do it before even the previews begin. After that, let the rest of the people watch the movie. Because the movie will most likely be more annoying, and hence make you funnier

. And remember, you are giving your money away. To the horrible movie, really.
For anyone who goes, enjoy

.